More than 216,000 Tesco staff will share in a bonus pot worth £105m as a result of the supermarket’s biggest-ever Shares In Success scheme.
Staff ranging from checkout operators to managers were eligible for shares in the scheme if they had worked for Tesco for at least a year by 27 February.
Those that signed up for the shares will receive the equivalent of 3.6% of their salary, to a maximum of £3,000. The shares are held in trust for five years and can then be sold tax-free.
Seventy-five thousand staff that signed up in 2005 are now eligible to sell £39m worth of shares.
“We’ve had Tesco’s best-ever year in a really challenging economic climate and that success is down to the hard work and skill of the whole Tesco team,” said non-executive chairman David Reid.
Careers File: Share ownership schemes can deliver for staff and also for their employers (10 October 2009)
Tesco staff trouser £98m in shares bonus (26 May 2009)